Kingsview Wealth Management LLC Buys New Stake in Oscar Health, Inc. (NYSE:OSCR)

Kingsview Wealth Management LLC bought a new stake in shares of Oscar Health, Inc. (NYSE:OSCR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,043 shares of the company’s stock, valued at approximately $446,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd purchased a new position in Oscar Health in the second quarter valued at $78,000. Quest Partners LLC purchased a new position in Oscar Health in the second quarter valued at $93,000. KBC Group NV increased its holdings in Oscar Health by 41.2% in the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after buying an additional 1,328 shares in the last quarter. Amalgamated Bank increased its holdings in Oscar Health by 27.7% in the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after buying an additional 1,458 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new position in Oscar Health in the third quarter valued at $142,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Stock Performance

OSCR opened at $16.83 on Friday. The firm has a market capitalization of $4.16 billion, a PE ratio of -280.50 and a beta of 1.67. Oscar Health, Inc. has a twelve month low of $7.29 and a twelve month high of $23.79. The firm’s 50-day moving average price is $17.57 and its 200 day moving average price is $18.10. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The business’s revenue was up 68.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. As a group, sell-side analysts expect that Oscar Health, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OSCR. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. UBS Group began coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, Bank of America cut shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.93.

Insider Buying and Selling

In other news, Vice Chairman Joshua Kushner bought 276,040 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the acquisition, the insider now directly owns 5,031,262 shares of the company’s stock, valued at $68,324,537.96. This trade represents a 5.80 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elbert O. Jr. Robinson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.05, for a total transaction of $426,250.00. Following the completion of the transaction, the director now owns 89,512 shares in the company, valued at $1,526,179.60. The trade was a 21.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 1,055,478 shares of company stock worth $14,432,852 and have sold 194,569 shares worth $3,433,319. 25.11% of the stock is currently owned by company insiders.

Oscar Health Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.